I suppose the beeper collars are a cost effective tool, albeit a bell runs about $5. I bought a beeper collar about 20 years ago, tried it once or twice, and put it on the shelf - again my personal preference.
I was a bell guy (well put them on my dogs - not me) up until two years ago. Now I use them off and on, depending on weather, terrain, my mood.
I would seriously look into the GPS systems that are out there today. You can truly run quiet. I have the Astro (no e-correction), but the Alpha is available with that set of tools if interested. Best money I have spent on hunting equipment - bar none.
There are other brands out there, but I cannot comment on them.